Sequoia Financial Advisors LLC Buys Shares of 5,329 Timken Company (The) $TKR

Sequoia Financial Advisors LLC acquired a new position in Timken Company (The) (NYSE:TKR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,329 shares of the industrial products company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. Victory Capital Management Inc. increased its stake in shares of Timken by 108.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company’s stock worth $132,372,000 after purchasing an additional 959,672 shares in the last quarter. Channing Capital Management LLC increased its stake in shares of Timken by 631.7% in the 1st quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company’s stock worth $77,883,000 after purchasing an additional 935,554 shares in the last quarter. Cooke & Bieler LP purchased a new stake in shares of Timken in the 1st quarter worth $18,041,000. American Century Companies Inc. increased its stake in shares of Timken by 7.3% in the 1st quarter. American Century Companies Inc. now owns 3,390,125 shares of the industrial products company’s stock worth $243,648,000 after purchasing an additional 231,435 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Timken by 48.5% in the 1st quarter. Millennium Management LLC now owns 681,379 shares of the industrial products company’s stock worth $48,971,000 after purchasing an additional 222,679 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Stock Up 3.0%

TKR opened at $77.37 on Wednesday. The firm has a 50-day simple moving average of $76.43 and a two-hundred day simple moving average of $72.85. Timken Company has a 52 week low of $56.20 and a 52 week high of $86.50. The company has a market capitalization of $5.39 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The company has a quick ratio of 1.72, a current ratio of 3.13 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. Timken had a net margin of 6.86% and a return on equity of 11.78%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue was down .8% on a year-over-year basis. Timken has set its FY 2025 guidance at 5.100-5.400 EPS. Analysts forecast that Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.8%. Timken’s dividend payout ratio (DPR) is presently 31.82%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Timken in a research note on Monday, September 15th. They issued a “neutral” rating and a $80.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a report on Wednesday, October 8th. Evercore ISI set a $84.00 target price on shares of Timken and gave the stock an “outperform” rating in a report on Tuesday, August 19th. DA Davidson upped their target price on shares of Timken from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Citigroup upped their target price on shares of Timken from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Timken currently has an average rating of “Hold” and an average price target of $80.73.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.